Life Insurance In New Mexico: Pacific Options Explored

Life insurance is a valuable safeguard for beneficiaries and can give policyholders peace of mind. Pacific Life Insurance Company is a premier carrier that offers a range of term and permanent policies. The company has a good reputation among its customers and high ratings from independent agencies. However, some policies are not available in certain states. So, is there a Pacific Life Insurance in New Mexico?

Pacific Life Insurance offers a range of term and permanent policies

Term Life Insurance Options:

• PL Promise Term: This policy offers term lengths of 10, 15, 20, 25, or 30 years, with flexible death benefit amounts starting at $50,000. You can choose to pay premiums annually, semi-annually, quarterly, or monthly. At any point during the policy, you have the option to convert some or all of the death benefit into a universal life policy, as long as you haven't reached the age of 70.
• Pacific Elite Term: This policy is offered in 10, 20, or 30-year terms, with a minimum face value of $750,000. It allows for flexible premium payment frequencies, similar to the PL Promise Term. One unique feature of this policy is the conversion credit, which provides the equivalent of one year's premium for free if you convert to a Pacific Life universal life policy after holding the term policy for at least one year.

Permanent Life Insurance Options:

Pacific Life Insurance offers several types of permanent life insurance policies, also known as cash value life insurance:

• Whole Life Insurance: This type of policy offers a guaranteed death benefit, fixed premiums, and a guaranteed rate of return on your cash value. Pacific Life offers three whole life products: Pacific PremierCare Choice 100, Pacific PremierCare Choice Max, and Pacific PremierCare Choice Multi-Pay Max, each with unique features and benefits.
• Indexed Universal Life Insurance: This option ties your cash value growth to an index, such as the S&P 500. Pacific Life offers several indexed universal life products, including Pacific Horizon IUL, which offers a flexible premium and the option to choose between a 1-year, 3-year, or Volatility Control account.
• Variable Universal Life Insurance: Variable universal life insurance provides flexibility in terms of premium amounts, payment frequency, and death benefit options. It also allows you to borrow or withdraw from your cash value. Pacific Admiral VUL is Pacific Life's variable life insurance policy, offering a range of investment options to suit your needs.
• Universal Life Insurance: Universal life insurance provides lifelong coverage and builds cash value over time. It offers flexible premiums, and Pacific Life includes this option in their range of permanent life insurance policies.

The company has a good reputation and high ratings from customers

Pacific Life Insurance has been in business for nearly 160 years, during which it has built a good reputation and high ratings from customers. The company was established in California in 1868 and now has a home office in Newport Beach, CA, with another home office for Pacific Life & Annuity Company in Omaha, Nebraska.

Pacific Life Insurance offers a range of term and permanent policies, including term life insurance, universal life insurance, variable universal life insurance, and indexed universal life insurance. The company also offers survivorship policies, which cover two people under one policy, with the death benefit paid out after both people have died.

Pacific Life Insurance has received high ratings from independent agencies, including a Comdex Score of 93%, which places the company in the top 7% of life insurance companies. In 2020, it was ranked first on the Forbes Advisor list of best insurance companies, with a large portion of its cash-value life insurance products scoring 5 stars from Veralytic. In 2021, the company's life insurance division received an Insurance Service Award by DALBAR, in recognition of its superior customer service.

Pacific Life Insurance has also drawn far fewer complaints than expected for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners. The company ranked 7th out of 21 companies in J.D. Power's 2024 U.S. Life Insurance Study for overall customer satisfaction.

Comments on Reddit about Pacific Life Insurance are generally positive, with users noting its reputation and affordable premiums for term life insurance. The company's application process has been described as quick and easy, although some users have reported that it involves a lot of paperwork.

Pacific Life Insurance's long history, high ratings from independent agencies, and low volume of consumer complaints indicate that it is a reputable company with satisfied customers.

It has nearly 160 years of expertise in retirement and life insurance solutions

Pacific Life Insurance has been in the business of providing retirement and life insurance solutions for nearly 160 years. The company was founded in California in 1868 and has since expanded its reach across the United States, including New Mexico.

Pacific Life offers a range of insurance products, including term life insurance and permanent policies such as universal life insurance, variable universal life insurance, and indexed universal life insurance. Their term life insurance policies are available in 10-, 15-, 20-, 25-, and 30-year terms, providing flexible options for customers. The company also offers survivorship policies, which cover two individuals, typically a couple, under one policy. This means that the death benefit is paid out after both insured individuals have passed away.

In addition to life insurance, Pacific Life also specializes in annuities and investment products. Their annuities provide customers with a steady income stream during retirement, which can be especially beneficial for those concerned about outliving their retirement savings. The company's investment products include commercial real estate investments, allowing customers to diversify their portfolios.

Pacific Life's long history in the industry has earned it a reputation for stability and strength. The company has received numerous accolades, including the top spot on the Forbes Advisor 2020 list of best insurance companies. It also scored high ratings from independent agencies, placing it in the top 7% of life insurance companies with a Comdex Score of 93%.

Pacific Life's commitment to its customers is evident through its dedication to providing informative resources and tools. Their website offers detailed consumer guides, online calculators, and insights to help individuals make informed decisions about their insurance choices.

With nearly 160 years of experience, Pacific Life has established itself as a trusted and reliable provider of retirement and life insurance solutions, ensuring that individuals and their loved ones are protected and prepared for the future.

Pacific Life Insurance is not available in New York state

Pacific Life Insurance Company is licensed to issue insurance products in all states except New York. The company's website states that some of its products are not available in New York.

Pacific Life Insurance offers a range of term and permanent policies. The company has a good reputation among its customers and has drawn fewer complaints than expected to state regulators, according to a NerdWallet analysis.

The company was founded in California in 1868 and has nearly 160 years of expertise in retirement and life insurance solutions. Pacific Life's home office is located in Newport Beach, California.

Pacific Life Insurance is a good option for many shoppers due to its high marks from consumers, the availability of information online, and its wide range of policies.

The company offers a death benefit protection with tax-free death benefits

Pacific Life Insurance is a well-regarded company with a good reputation among its customers and high marks from consumers. It offers a range of term and permanent life insurance policies, including term life insurance and universal life insurance. The company also provides survivorship policies, which cover two people, typically a couple, under one policy. The death benefit is paid out after both people pass away.

Pacific Life's term life insurance includes two types of policies: Promise Term and Elite Term. Promise Term allows policyholders to convert their death benefit to a new universal life insurance policy before turning 70, while Elite Term offers a conversion to cash value life insurance within 10 years of the policy start date.

The company's permanent life insurance options include universal life insurance, variable universal life insurance, and indexed universal life insurance. These policies provide lifelong coverage and build cash value over time.

One of the key advantages of Pacific Life Insurance is its tax-free death benefits. When a loved one passes away, the beneficiary can receive a death benefit payout that is generally not subject to income tax. This means that the full amount of the death benefit is available to support the beneficiary financially, without any tax-related deductions.

In addition to tax-free death benefits, Pacific Life Insurance's policies can also provide tax advantages during the policyholder's lifetime. For example, with cash value life insurance, policyholders can accumulate cash value on a tax-deferred basis. This means that the cash value grows without being subject to taxes until it is accessed. Policyholders can later withdraw or borrow against the available cash value tax-free.

Pacific Life Insurance's death benefit protection with tax-free death benefits offers valuable financial security for beneficiaries. It ensures that loved ones receive the full benefit amount without tax deductions, providing them with financial support during a difficult time.

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